2015 New Hampshire Revised Statutes
Title XXXVI - PAWNBROKERS AND MONEYLENDERS
Chapter 399-G - LICENSING OF MONEY TRANSMITTERS
Section 399-G:3 - License Required.
Any person not exempt under RSA 399-G:4 that, in its own name or on behalf of other persons, transmits money from this state or to persons within this state, shall obtain a license from the banking department.
399-G:3 Exemptions. --
The provisions of this chapter shall not apply to:
I. Any bank, trust company, savings and loan association, profit sharing and pension trust, credit union, thrift company, insurance company, or receivership, which may be chartered by this state or any other state or by any agency of the United States.
II. The United States or any department, instrumentality, or agency thereof.
III. A state, county, city, or any other governmental agency or governmental subdivision of a state.
IV. Electronic funds transfer of governmental benefits for a federal, state, county, or governmental agency by a contractor on behalf of the United States or a department, agency, or instrumentality thereof, or a state or governmental subdivision, agency, or instrumentality thereof.
V. Retailers issuing stored value credits or gift cards.
VI. A debt adjuster duly licensed pursuant to RSA 399-D that acts as a money transmitter for the sole purpose of providing a debt adjustment service to a consumer under terms of a contract issued pursuant to RSA 399-D and that has a surety bond on file with the commissioner under RSA 399-D in the amount of $100,000.
VII. Other persons not within the intent of this chapter as the commissioner may designate by rule or order.
Source. 2015, 258:1, eff. Jan. 1, 2016.
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